Nuveen LLC Takes Position in D-Wave Quantum Inc. $QBTS

Nuveen LLC bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 600,320 shares of the company's stock, valued at approximately $4,562,000. Nuveen LLC owned 0.21% of D-Wave Quantum at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in QBTS. Vanguard Group Inc. lifted its position in D-Wave Quantum by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock valued at $85,766,000 after acquiring an additional 4,166,721 shares in the last quarter. Bank of America Corp DE lifted its position in D-Wave Quantum by 4,912.4% in the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock valued at $21,404,000 after acquiring an additional 2,497,263 shares in the last quarter. Penserra Capital Management LLC lifted its position in D-Wave Quantum by 80.1% in the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock valued at $38,518,000 after acquiring an additional 2,253,741 shares in the last quarter. UNICOM Systems Inc. lifted its position in D-Wave Quantum by 91.9% in the 1st quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock valued at $35,171,000 after acquiring an additional 2,216,000 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in D-Wave Quantum in the 1st quarter valued at about $6,883,000. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $15.44 on Wednesday. D-Wave Quantum Inc. has a 52 week low of $0.80 and a 52 week high of $20.56. The company's 50 day moving average price is $16.62 and its two-hundred day moving average price is $12.03. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.28 billion, a P/E ratio of -14.70 and a beta of 1.41.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum's quarterly revenue was up 40.9% on a year-over-year basis. On average, equities analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Activity at D-Wave Quantum

In other news, Director John D. Dilullo sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $16.40, for a total transaction of $246,000.00. Following the completion of the sale, the director owned 44,295 shares in the company, valued at $726,438. This trade represents a 25.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roger Biscay sold 106,626 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the sale, the director owned 14,260 shares of the company's stock, valued at approximately $240,281. The trade was a 88.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 378,787 shares of company stock worth $6,389,513 over the last 90 days. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QBTS. Rosenblatt Securities began coverage on shares of D-Wave Quantum in a research report on Tuesday, July 29th. They issued a "buy" rating and a $30.00 price target on the stock. Benchmark reaffirmed a "buy" rating and issued a $20.00 price target on shares of D-Wave Quantum in a research report on Monday, August 4th. Canaccord Genuity Group assumed coverage on shares of D-Wave Quantum in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $20.00 price target on the stock. B. Riley lifted their target price on shares of D-Wave Quantum from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Williams Trading set a $20.00 target price on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $19.27.

D-Wave Quantum Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.

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